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Nov 29, 2012
11/12
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no matter what happens on the fiscal cliff. and is another bailout nation on the way? student loans up to $1 trillion, huge delinquency rates, default rates going sky high, no credit standards and sky high tuition. sound likes a real bad story to me. ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank finefein. >> the highlight of the meeting was the intensity from which the white house emphasized that marge al rates as a matter of math and politics have to go up somewhat, if not all the way to 31.6 had to go up and as p he said as a necessary ingredient of a deal, he would support such a rate. >> the president said we would pursue our own interests. i'm not -- i'm certainly not insisting, i don't even desire higher rates. i think there lab drag if revenue goes up and rates go up. but i think there will also be a drag on the american economy if our budget deficit widens out forever, if we're irresponsible and governor doesn't work. left with those four choices,
no matter what happens on the fiscal cliff. and is another bailout nation on the way? student loans up to $1 trillion, huge delinquency rates, default rates going sky high, no credit standards and sky high tuition. sound likes a real bad story to me. ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank finefein. >> the highlight of the meeting was the intensity from which the white...
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Dec 7, 2012
12/12
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the essential components of that right now is to avoid the fiscal cliff and give certainty to the middle class passing those middle class tax cuts rate now. >> you have just articulated what i anticipate we'll hear from the president in the state of the union. the politics of knocking on doors, the good streets politics of the grassroots party. there's greater unit, which is important. >> this election was not just two paths and visions laid out on issues. you had a handful of billionaires on the republican side trying to buy the white house from mitt romney and you had a grass roots movement that was organized from the ground up with volunteers, people-powered campaign. it demonstrated that you can't buy democracy in this country. you really have to work it, and hour voters and supporters were determined to get out their get to work, and stay on line, even with all the obstacles thrown in their way by republicans across the country preventing them from getting access to the polls. >> it's so important. there were two competing advices. in a way this was a good election for democracy. th
the essential components of that right now is to avoid the fiscal cliff and give certainty to the middle class passing those middle class tax cuts rate now. >> you have just articulated what i anticipate we'll hear from the president in the state of the union. the politics of knocking on doors, the good streets politics of the grassroots party. there's greater unit, which is important. >> this election was not just two paths and visions laid out on issues. you had a handful of...
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Dec 4, 2012
12/12
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cliff, tax rates go up not just for the rich but for the middle class, for everyone, all those cuts in domestic spending and naths security spending, they go into effect. people aren't going to be happy about that, and the president will be able to say, look, i begged them, i repeatedly said 98% of the american public, they wouldn't get a tax increase if we just took them out of the equation, let's pass legislation extending the bush tax cuts for everyone earning under $250,000 a year. they didn't do it. so, you know, he'll have some leverage on that in terms of the politics because politically, you know, the polls all are very consistent. the election results are pretty consistent. the american public is ready for a modest increase in taxes for the upper 2% of taxpayers. having said that, there's another issue that's coming up in february or march and that's raising the debt ceiling once again. the republicans have a lot of leverage on that right now because the white house, the administration will desperately want to raise that debt ceiling so the u.s. doesn't go into default. tha
cliff, tax rates go up not just for the rich but for the middle class, for everyone, all those cuts in domestic spending and naths security spending, they go into effect. people aren't going to be happy about that, and the president will be able to say, look, i begged them, i repeatedly said 98% of the american public, they wouldn't get a tax increase if we just took them out of the equation, let's pass legislation extending the bush tax cuts for everyone earning under $250,000 a year. they...
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Dec 4, 2012
12/12
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if there's a deal on the fiscal cliff, if there's going to be a deal before january 1st, there will be rate increases of some sort. boehner can't be the guy to lead republicans to that, because they don't trust him and looking for sign of a sellout. what he needs to do here, this goes to the end of the month because boehner has to wait and put up the fight and make it look like he's putting up the filt. other conservatives say it's time to go. >> who would that be? >> people on talk radio and fox news and "wall street journal." >> who in washington would lead that? >> i think the tea partiers in the house are responsive to that information network. that's what happened with -- here's the key. last year the payroll tax was coming up for expiration at end of last year. obama said i wanted it extended for 2012. republicans at first said no, and boehner had to say no with them. when the deadline came last christmas, around last christmas republicans started to panic but polls showed people would blame them. all of a sudden those voices said let's not have this fight now. >> he's banking on
if there's a deal on the fiscal cliff, if there's going to be a deal before january 1st, there will be rate increases of some sort. boehner can't be the guy to lead republicans to that, because they don't trust him and looking for sign of a sellout. what he needs to do here, this goes to the end of the month because boehner has to wait and put up the fight and make it look like he's putting up the filt. other conservatives say it's time to go. >> who would that be? >> people on talk...
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Dec 6, 2012
12/12
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cliff budget negotiations that as of this hour are still focused entirely on income tax rates. there is much more that congress has to solve than income tax rates including the amt, medicare spending, medicaid, and possibly social security. joining me to talk about the things that congress is not yet talking about but will soon be talking about, joeyç reed and chris hayes. chris, the amt has a deadline to it that is sharper than anything else in here, because these 2012 tax returns going to have to be calculated with either this new version of the amt or the fixed version, and that is the difference between it affects -- it adds tens of millions of people getting bitten by this thing. i know that the insiders are more worried about that actually getting fixed than the cliff at this point. >> yeah. when i started covering capitol hill in washington, there were two things that people talked about, which was the amt patch and the dock fix. everyone is like where are we on the amt fix. they adjust the payments and do this thing with the amt. we were asking early on, is there a wa
cliff budget negotiations that as of this hour are still focused entirely on income tax rates. there is much more that congress has to solve than income tax rates including the amt, medicare spending, medicaid, and possibly social security. joining me to talk about the things that congress is not yet talking about but will soon be talking about, joeyç reed and chris hayes. chris, the amt has a deadline to it that is sharper than anything else in here, because these 2012 tax returns going to...
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Dec 4, 2012
12/12
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cliff and also because the marginal tax rates are going to automatically increase, which means any lower tax rates president obama will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and deadline pressure and momentum you're not going to have after you're over the fiscal cliff. so every day that goes by after january 1st isn't going to look like that big of a deal and essentially, time will run out for both parties, you will have a lot of problems in 2013, they will take the lion's share away from fiscal dealmaking, senate confirmation, have the debt ceiling, the long-delayed nuclear negotiableses with iran, going to have posturing for the 2014 campaigns. all of those things are going to suck out the moment up that we have right now. so, yes, de
cliff and also because the marginal tax rates are going to automatically increase, which means any lower tax rates president obama will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we...
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Dec 7, 2012
12/12
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cliff if we don't get higher rates was reckless talk. the staff resumed conversations yesterday in the phone call between speaker boehner and the president that you mentioned. so it's difficult to tell. i still believe as i've said ever since the election that the conditions are emerging for a potential deal, but you've got to get there when the speaker can rally his troops behind the sort of deal that the president will accept. the president believes he holds the high ground. he has all the tax cuts expiring at the end of the year and the question is do we have to go over that cliff before a deal can be struck or not. >> we asked you yesterday whether or not progress was taking place at least on the staff level. you said there were differing opinions. has the needle moved on that front? >> well, the movement of the needle was that yesterday the staff resumed conversations after a little hiatus over several days before that, so that is a progress in and of itself that they're talking, but there's no indication that those conversations ha
cliff if we don't get higher rates was reckless talk. the staff resumed conversations yesterday in the phone call between speaker boehner and the president that you mentioned. so it's difficult to tell. i still believe as i've said ever since the election that the conditions are emerging for a potential deal, but you've got to get there when the speaker can rally his troops behind the sort of deal that the president will accept. the president believes he holds the high ground. he has all the...
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Nov 30, 2012
11/12
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and it was the tax on dividend as opposed to specificly the fiscal cliff, if you will. but it's the fact that dividends will be taxed at higher rates. >> you will be paying out about $60 million in dividends. >> we will. >> you will be borrowing that money. why is that a good use of your borrowing capacity? >> well, number one, we generate cash very, very quickly. we generate about 120 or 1-- 150 million dollars a year in free cash flow, so we're talking about a year, maybe less than six months of cash flow. number two as i tould we are not capital constrained. >> right. >> so this is not a burden on our credit facility. >> so why use the credit facility to pay your shareholders versus use it to look for new acquisitions that could accelerate your rate of growth? >> because we, number one, we-- basically heico runs without cash. we look to-- we look to our credit facility. heico is a very excellent rated credit. we're very high quality credit, very strong balance sheet. we have very little debt. we are now paying less than 1 1/4 percent for money. so it's really very in
and it was the tax on dividend as opposed to specificly the fiscal cliff, if you will. but it's the fact that dividends will be taxed at higher rates. >> you will be paying out about $60 million in dividends. >> we will. >> you will be borrowing that money. why is that a good use of your borrowing capacity? >> well, number one, we generate cash very, very quickly. we generate about 120 or 1-- 150 million dollars a year in free cash flow, so we're talking about a year,...
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Dec 6, 2012
12/12
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i believe we can avoid the fiscal cliff and address our massive deficit but that requires doing three essential things: reforming our tax code, reforming entitlement programs, and better controlling our spending. we can get additional revenue by reforming our tax code. that means closing loopholes and limiting deductions. by closing loopholes and limiting deductions, we can make the tax code -- tax code simpler and fairer to stimulate growth in our economy. markets get the kind of certainty they need to invest, to grow and to hire. it's a growing economy, a growing economic base that creates more jobs and revenue, not higher taxes. the simple fact is, we must make america a great place to do business again. our pro-growth strategies in my home state of north dakota have broadened our economic base and raised revenue without raising taxes. that has resulted in the lowest unemployment rate in the nation. growing personal income and rather than a deficit, a budget surplus. in addition to pro-growth tax reform, we also need to start a fair and thoughtful process to reform entitlement prog
i believe we can avoid the fiscal cliff and address our massive deficit but that requires doing three essential things: reforming our tax code, reforming entitlement programs, and better controlling our spending. we can get additional revenue by reforming our tax code. that means closing loopholes and limiting deductions. by closing loopholes and limiting deductions, we can make the tax code -- tax code simpler and fairer to stimulate growth in our economy. markets get the kind of certainty...
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Dec 1, 2012
12/12
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fiscal cliff? guest: if we go off the cliff, the rate will go up to 39.6%. the low bracket will go away and the lowest tax bracket will be 15% if we go off the cliff. 15% to 39.6% if we go off the cliff. caller: what about the other rates? host: we have a question on twitter. guest: you don't pay taxes on losses. if you're making profits and a picture up over $250,000, that could result in a tax increase that kicks you over $250,000. caller: we need jobs in this country. i hear all this money being talked. the average worker -- i am lucky i get 30 hours. they're cutting down to 20 hours at wal-mart. i had a good manager. i notice a woman comes in. she says we can get anybody to work. you talk about the tax credits. most of us have no chance of getting anything like that. this is too low republicans and democrats. fascism and communism, it was always party first. that's what our country has come to. we have to come together as true conservatives and true democrats and come together. guest: one of th
fiscal cliff? guest: if we go off the cliff, the rate will go up to 39.6%. the low bracket will go away and the lowest tax bracket will be 15% if we go off the cliff. 15% to 39.6% if we go off the cliff. caller: what about the other rates? host: we have a question on twitter. guest: you don't pay taxes on losses. if you're making profits and a picture up over $250,000, that could result in a tax increase that kicks you over $250,000. caller: we need jobs in this country. i hear all this money...
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Dec 3, 2012
12/12
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what we need to do is to avoid the fiscal cliff, have a down payments of both spending reductions and effective tax rate increases geared towards the well off. all right? we need to defer most of the major spending reductions and tax rate increases until a date later than 2013. couple that with a deferral of the debt ceiling limit to the same date so that we can achieve a grand bargain in 2013, which will be budget control, comprehensive tax reform, social insurance reforms, those types of things. we have to be realistic about what can be achieved before the end of the year and we have to build to achieving a grand bargain in 2013. >> steve, last year, we know how close everyone got and we also know that the president commission has been involved in all those people to come to a fix for our long-term problems. now, they came up with 28% as a tax rate. they came up with three to one in terms of spending cuts. the president is nowhere near embracing that at this point. we're so far from that at this point that it seems like the opportunity was mittsed last year. >> right now, the presid
what we need to do is to avoid the fiscal cliff, have a down payments of both spending reductions and effective tax rate increases geared towards the well off. all right? we need to defer most of the major spending reductions and tax rate increases until a date later than 2013. couple that with a deferral of the debt ceiling limit to the same date so that we can achieve a grand bargain in 2013, which will be budget control, comprehensive tax reform, social insurance reforms, those types of...
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Nov 30, 2012
11/12
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and, of course, we know that once they go over the fiscal cliff and those that -- that cap cal gains rate goes back to the clinton era it will be a 20% rate anyway. one way or another it's going to up. that's all i am saying. nancy took cook, thank you so much from the national journal thank you for join is us inside the war room. coming up, the car room is is not in the prediction business but we hear there is good money in it. so we are going to jump in. our best guess on how this negotiation will play out right after the break. plus what would thomas jefferson do with the fiscal cliff? funny you should and s author john meechum's new biography on the founder father sheds new light on the man and his method and he, john meechum will join us in the war room. and later mitt romney finally got into the white house don't worry, though it was just for a bowl of chili. ititititititititititititititititititititititititititit before the sneeze, help protect with a spray. before the tissue, help defend with a wipe. before the cold & flu season help prevent with lysol. because when you have 1
and, of course, we know that once they go over the fiscal cliff and those that -- that cap cal gains rate goes back to the clinton era it will be a 20% rate anyway. one way or another it's going to up. that's all i am saying. nancy took cook, thank you so much from the national journal thank you for join is us inside the war room. coming up, the car room is is not in the prediction business but we hear there is good money in it. so we are going to jump in. our best guess on how this negotiation...
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Dec 7, 2012
12/12
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he said he would rather go over the fiscal cliff than not to raise tax rates. so obama pushing higher taxes on the top 2%, not for economic reasons but for i'd logical reasons but there is also this obvious fact. obama wants to raise the top rates for political reasons. now that is he wants to force republicans to raise tacks in order to trigger a civil war within the gop and the conservative movement, and in that respect sadly obama is having some success. now so long as this debate is focused not on cutting spending but on raising daxs and revenues with the only question being which taxes, how much revenue, then obama wins. now if obama succeeds in making the argument not about his spending, but about grover norquist, he wins there, too. for republicans, on the other hand, if they can figure out a way to refocus the debate on spending, they win and the country wins. we can't kid ourselves that's correct is not easy to do. obama has the biggest microphone in the land and he also has the media in his hip pocket. all the gop has is control of the house. now it's
he said he would rather go over the fiscal cliff than not to raise tax rates. so obama pushing higher taxes on the top 2%, not for economic reasons but for i'd logical reasons but there is also this obvious fact. obama wants to raise the top rates for political reasons. now that is he wants to force republicans to raise tacks in order to trigger a civil war within the gop and the conservative movement, and in that respect sadly obama is having some success. now so long as this debate is focused...
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Dec 5, 2012
12/12
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but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if they can get past tax rates and spending cuts, then they will be able to deal with the peripheral issues. but we don't have much time. if a deal isn't reached or a framework isn't reached in the next week or, so it's going to be a big problem. >> all right, thanks for that. good to see you. > >>> nokia -- we'll tell you more when we come back in a few moments. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sal
but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if...
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Dec 6, 2012
12/12
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hikes for top income earners. >> is the administration prepared to go over the fiscal cliff? >> absolutely. there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. it's only 2%. >> reporter: republicans insist they can get the revenue from reforming the tax code without increasing tax rates. >> the revenues put on the table are going to come from guess who? the rich. >> reporter: but the president says that won't work. >> it is not possible for us to raise the apartment
hikes for top income earners. >> is the administration prepared to go over the fiscal cliff? >> absolutely. there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. it's only 2%. >> reporter: republicans insist they can get the revenue from reforming the tax code without increasing tax rates. >> the revenues put on the table are going to come from guess who? the rich. >> reporter: but the president...
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Dec 6, 2012
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. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff in. >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. it's only 2%. >> i want to bring in "usa today" bureau chief and welcome to both of you. where are we in these negotiations, susan? >> i think the most encouraging thing was they agreed to the to characterize the phone call. the last time around the characterization of the phone call became a controversy in itself. i think it's pretty clear that the white house and republicans think the white house hand on this is strengthening. we see the polls that you mention, pew polls this week say americans trust the president more, assume if a deal is not reached -- trust the white house more, think if a deal isn't reached it, will be the fault of republicans and it is in fact easier for democrats to go over the fiscal cliff than it is for republicans because then all those tax cuts from the republicans are swept away. but it's too early. it's only december 6. we've
. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff in. >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. it's only 2%. >> i want to bring in "usa today" bureau chief and welcome to both of you. where are we in these negotiations, susan? >> i think the most encouraging thing was they agreed to the to characterize the phone call. the last...
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hey, rich. >> congressional republicans say the latest fiscal cliff shrugged off the concession on taxes. the administration is calling for a trillion and a half dollars in tax increases, and the other sticking point for republicans, much of it must be the results of tax rate increases, and that's a non-starter for republicans. >> flabbergastee. i looked, and i said, you can't be serious? i just never seen anything like it. we have seven weeks between election day and the end of the year, and three of those weeks have been wasted with this nonsense. >> okay. you heard for the first time in two decades now acknowledge revenues can go up as part of the balanced plan, a good first step, but they have to deal with rates and revenues. >> this talk has lawmakers and analysts skeptical. they could strike a deal to have hundreds of billions in tax increases set for january. still, both sides have been through the debate before. they know the options available to cobble a deal together. one aid says it's too early for either side to reach an agreement knowing they still have to show to their memb
hey, rich. >> congressional republicans say the latest fiscal cliff shrugged off the concession on taxes. the administration is calling for a trillion and a half dollars in tax increases, and the other sticking point for republicans, much of it must be the results of tax rate increases, and that's a non-starter for republicans. >> flabbergastee. i looked, and i said, you can't be serious? i just never seen anything like it. we have seven weeks between election day and the end of the...
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Dec 7, 2012
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and 53% say they trust president obama to avoid the fiscal cliff. compared to just 36% who trust republicans in congress. also today speaker boehner said he wouldn't rule out an agreement to raise taxes as part of a fiscal cliff deal. but he also said there's no progress. this is what winning looks like. joining me now, e.j. dionne and thank you both for your time. senator solis, the jobless rate is at a four-year low. that's quite an achievement. >> yes, reverend re. but we still need to do more. in sectors like retail and health care and tourism and hospitality. we need to do more because people are still suffering. we've got to put jobs back in infrastructure and construction and put our teachers. that's why the president is working so hard so we don't go off the fiscal cliff so we keep the most vulnerable people out of harm's way. to pay $2,200. we've got to talk about fairness here and i'm very excited that the public is listening to the message that the president has made very, very clear. >> 146,000 new private sector jobs last month but one
and 53% say they trust president obama to avoid the fiscal cliff. compared to just 36% who trust republicans in congress. also today speaker boehner said he wouldn't rule out an agreement to raise taxes as part of a fiscal cliff deal. but he also said there's no progress. this is what winning looks like. joining me now, e.j. dionne and thank you both for your time. senator solis, the jobless rate is at a four-year low. that's quite an achievement. >> yes, reverend re. but we still need to...
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Dec 2, 2012
12/12
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there's not -- >> you'll go off the fiscal cliff if the republicans say, sorry, no way are we going to raise rates for the -- on the wealthy. you guys are willing to go off -- >> if republicans are not willing to let rates go back up and we think they should go back to the clinton levels, the time when the american economy was doing exceptionally well, there will not be an agreement. >> you would be willing to let that happen? >> let me explain why. if they are going to force higher rates on virtually all americans because they're unwilling to let tax rates go up on 2% of americans, then that's a choice they're going to have to make, but they'll own the responsibility. >> but it is kind of a choice the country will have to pay for, correct? is there some pontiac for you all. you would let that happen. fine, you don't want new tax rates. we're out of this. >> what we're trying to do is to get them to come together and join us and doing something that's good for the american economy, and we recognize that's going to require spending savings, not just revenue increases on the top wealthie
there's not -- >> you'll go off the fiscal cliff if the republicans say, sorry, no way are we going to raise rates for the -- on the wealthy. you guys are willing to go off -- >> if republicans are not willing to let rates go back up and we think they should go back to the clinton levels, the time when the american economy was doing exceptionally well, there will not be an agreement. >> you would be willing to let that happen? >> let me explain why. if they are going to...
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gerri: i expect you to be a little bit more upbeat about the fiscal cliff, but i have to tell you, you sound like a lot of people in washington today. concerns over whether these leaders can get together and find common ground and resolve this issue. it would be meaningful to stay like yours. governor, thank you so much for coming on. >> thank you, gerri. gerri: it's not just politicians and ceos are worried about the fiscal cliff. even baseball players are worried. this man just signed a contract with the atlanta braves. this is something that the mbl rarely does. if upton gets paid one day later, he gets paid an additional $120,000 in taxes. he is not alone. his former tampa bay teammaae, signed an extension cable next week. who can blame them? it is like a tax revolt all over the place. if washington doesn't act fast, major league owners will be forced to shell out a lot of money. [ oman ] ring. ring. progresso. i just served my mother-in-law yo chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wan
gerri: i expect you to be a little bit more upbeat about the fiscal cliff, but i have to tell you, you sound like a lot of people in washington today. concerns over whether these leaders can get together and find common ground and resolve this issue. it would be meaningful to stay like yours. governor, thank you so much for coming on. >> thank you, gerri. gerri: it's not just politicians and ceos are worried about the fiscal cliff. even baseball players are worried. this man just signed a...
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Dec 6, 2012
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they're clearly neither shaken nor stirred by the fiscal cliff. joining us is congresswoman jan chakowski from illinois. >> good afternoon. >> can i thank you for remaining at work given the urgency of the situation. speaker boehner says raising tax rates on the top 2% is unacceptable without serious entitlement reform. and a few hours ago nancy pelosi wondered what exactly he had in mind. take a listen. >> what are we talking about here? what are we talking about when we say restructure entitlements? what does restructure mean? destroy, wither on the vine, voucherize, or does it mean let's work together to make these stronger? >> now, given that speaker boehner doesn't tell us anything, are you able to give us any specific examples of what democrats may be prepared to concede in terms of earned entitlements? >> well, i am not willing to say that we cut benefits at all because we can, in fact, make medicare more cost-effective and bring down health care costs without cutting benefits. we did that, and the republicans hit us over the head with it.
they're clearly neither shaken nor stirred by the fiscal cliff. joining us is congresswoman jan chakowski from illinois. >> good afternoon. >> can i thank you for remaining at work given the urgency of the situation. speaker boehner says raising tax rates on the top 2% is unacceptable without serious entitlement reform. and a few hours ago nancy pelosi wondered what exactly he had in mind. take a listen. >> what are we talking about here? what are we talking about when we say...
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Dec 6, 2012
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let me play it. >> if there is no agreement, then the fiscal cliff has to be dealt with. i didn't see it if they decent this, we do that. i saw it as a statement of fact. it's not a threat. it's a prediction. if there's no agreement, we go over the cliff. let's hope we can have an agreement. >> what do you make of the way she put it? it's not a threat. she said, listen, these are the facts. >> nice little economy you have there. nice little economy you have there. it would be a shame it if anything happened to it. that's not a threat. look, we have to start looking at what happens if we do, in fact, go over the so-called cliff, and what happens is, you know, one thing is we take a huge bite out of the deficit. we do it in a crude may, and there would be immediate attempts to fix it and fine-tune it and take some back. some would probably get through. if you actually want to look at it from a policy standpoint, it may not be the worst possible option to just go over the cliff and then put back in the tax cuts and the spending increases or renewals that you'd like to put ba
let me play it. >> if there is no agreement, then the fiscal cliff has to be dealt with. i didn't see it if they decent this, we do that. i saw it as a statement of fact. it's not a threat. it's a prediction. if there's no agreement, we go over the cliff. let's hope we can have an agreement. >> what do you make of the way she put it? it's not a threat. she said, listen, these are the facts. >> nice little economy you have there. nice little economy you have there. it would be...
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and as you know, this isn't one fiscal cliff. this is six or seven different things that can be taken on one at a time. the middle class and the working class can be protected. the only thing preventing that from happening is the house leadership. and that's a tough situation for the republicans to be in, where they either have to show their true priority, which is to hold the middle class hostage, or take this piece away and be forced to show what they're really standing for. >> but if you look at the fish bowl the republicans are swimming in right now, there are a lot of sharks. you've got mitch mcconnell, who's running for re-election. you've got eric cantor, looking over speaker boehner's shoulder. he'd love to have that job. i mean, how can you get an honest broker out of the republican camp, when all of this stuff is swimming around? you've got the hard right-wing tea partyers out there. you've got mcconnell looking at possibly being in a real tough re-election. and as i said, you know, boehner, is he protecting his backsid
and as you know, this isn't one fiscal cliff. this is six or seven different things that can be taken on one at a time. the middle class and the working class can be protected. the only thing preventing that from happening is the house leadership. and that's a tough situation for the republicans to be in, where they either have to show their true priority, which is to hold the middle class hostage, or take this piece away and be forced to show what they're really standing for. >> but if...
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that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that the country is facing. >> even the president got the tax rate hike he wanted understand we would continue to see trillion dollar deficits for as far as the eye can see. listen, washington has got a spending problem, not a re-knew problem. >> for many top democrats it's all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome o
that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that...
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. >> senator rubio weighing in on the fiscal cliff debate and the idea of raising tax rates for the wealthy saying we need to make poor people richer, not rich people poorer. soledad. >> that's the kind of thinking that will get you votes, right? >> all right. thanks, zoraida. >> new york city police could be close to charging a suspect in that fatal subway push. they say a man is now being questioned and has implicated himself in this case. a front page "new york post" photo has become the source of a lot of controversy. it shows the victim desperately trying to climb up from the tracks as the train approaches. this morning we're hearing that the photographer has said some things in his own defense. cnn's mary snow has more on this report. >> [ bleep ] alone. take your [ bleep ] over there. >> reporter: why exactly these men were fighting is unclear. but moments after this video obtained by the new york police was record 58-year-old ki-suck han whose face is obscured, was pushed on to the tracks, police say, by the man yelling at him. subway barreling through the station killed han with ho
. >> senator rubio weighing in on the fiscal cliff debate and the idea of raising tax rates for the wealthy saying we need to make poor people richer, not rich people poorer. soledad. >> that's the kind of thinking that will get you votes, right? >> all right. thanks, zoraida. >> new york city police could be close to charging a suspect in that fatal subway push. they say a man is now being questioned and has implicated himself in this case. a front page "new york...
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to leave us at some point, i guess, after this fiscal cliff thing is cleared up in some form. when you look back over your four years here, when you look back at the stimulus plans, $7 trillion plus, where we are right now in the economy, economic recovery, is this honestly where you thought you would be when you started out trying to physician the economy you got? >> i think we're in a much stronger position today as a country than we were in 2007 in a way when the president came to office. >> i just wonder if you think looking forward that this was where you thought we would be. did you think we would be better off? >> to me i think we're in a much better position than actually i thought was realistic, and in those darkest days of this financial crisis, when there was a real risk of catastrophic collapse, and i think all americans would be much more confident today than any time in the last four or five, six years that we have a better foundation for broad-based growth. i'm proud of being part of that. even with although challenges that we've had. >> mr. secretary, thank you
to leave us at some point, i guess, after this fiscal cliff thing is cleared up in some form. when you look back over your four years here, when you look back at the stimulus plans, $7 trillion plus, where we are right now in the economy, economic recovery, is this honestly where you thought you would be when you started out trying to physician the economy you got? >> i think we're in a much stronger position today as a country than we were in 2007 in a way when the president came to...
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. >> i would take a step further and say the fact we haven't found a plan for the so-called fiscal cliff has been the biggest issue because that more than anything, the uncertainty and the effect that is having on the economy, not necessarily willing to hire until we know what is going on. that more than anything is the thing that could affect the economy and housing. stuart: we have been saying all day that the president's plan that he stuck to the republicans yesterday as a disaster for the economy, going over the cliff is a disaster for the economy. the dow jones industrial average is up five points. there is no impact on the stock market from the disastrous proposal from the president. gerri: i was going to go back to the mortgage deduction. you do a good job breaking up the numbers and what would would mean on the bottom line but it is really about psychology in the housing market and psychology is not good. i don't care what the number the doing. stuart: any restrictions on mortgage interest deduction politicians would take and say just look what you are doing with the great middle
. >> i would take a step further and say the fact we haven't found a plan for the so-called fiscal cliff has been the biggest issue because that more than anything, the uncertainty and the effect that is having on the economy, not necessarily willing to hire until we know what is going on. that more than anything is the thing that could affect the economy and housing. stuart: we have been saying all day that the president's plan that he stuck to the republicans yesterday as a disaster for...
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this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i don't know that i'm as disappointed as the speaker is right now. i understand some of his problem with this. but the fact of the matter is the american people ended elections on november 6th, voiced their approval of president obama's approach to this. over 3 million more people voted for him than voted for mr. romney. and then if you look at house democr democrats. only 201 of us got eelected. that means the rest were republicans. >> i understand that. >> but over 500,000 more votes than they got -- >> with all due respect, representative, we understand that the president won and you fe
this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i don't know that i'm as...
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the biggest issue that's causing the fiscal cliff is the tax rates going up on the middle class. especially in this time now when we're getting out of this recession. we're seeing some robust growth. we want the christmas sales to be good. if the middle class knew that they're going to keep their tax cut, it would put a smile on everybody's face. and both parties can take credit for it. why won't they do it? there's only one answer. they're obsessed with protecting billionaires and millionaires. it's a sad state of affairs. >> one thing that we've seen in the days leading up, at least through this week, that there has been optimism from both sides expressed by speaker boehner, also by the president, and also republican tom cole, congre congressman, seem to be on board. now we have conservatives like charles krauthammer putting out their pieces saying let's go over the fiscal cliff, let the president do this. then john cornyn, republican from texas, saying apparently the president wants us to go over the fiscal cliff. this is serious business, demanding higher taxes, more stimulus
the biggest issue that's causing the fiscal cliff is the tax rates going up on the middle class. especially in this time now when we're getting out of this recession. we're seeing some robust growth. we want the christmas sales to be good. if the middle class knew that they're going to keep their tax cut, it would put a smile on everybody's face. and both parties can take credit for it. why won't they do it? there's only one answer. they're obsessed with protecting billionaires and...
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. >> reporter: secretary geithner said he cannot promise we will not go over the fiscal cliff and whether or not we go over it depends -- is a decision, rather, that lay in the hands of republicans that don't want to increase tax rates. speaker boehner said there is a chance we go over the cliff, but he doesn't want any part of that and he will do everything he can to avert that. eric, jamie? >> eric: peter, negotiations if and when they commence and continue, we'll see what happens. thank you, peter. jamie? >> jamie: well, you will also want -- we're going to talk, actually, to chris wallace and get a preview about that interview. hard to believe he has both tim geithner and john boehner. from the looks of it, john boehner does seem to be flabbergasted. we'll get to that shortly. >> eric: that is on "fox news sunday." later today, exclusive interview with speaker boehner. sunday at 2:00 p.m. and 6:00 p.m. right here on the fox news channel. >> jamie: well, there is a push by the senate republican leader mitch mcconnell as well to put medicare and social security on the table to try and t
. >> reporter: secretary geithner said he cannot promise we will not go over the fiscal cliff and whether or not we go over it depends -- is a decision, rather, that lay in the hands of republicans that don't want to increase tax rates. speaker boehner said there is a chance we go over the cliff, but he doesn't want any part of that and he will do everything he can to avert that. eric, jamie? >> eric: peter, negotiations if and when they commence and continue, we'll see what...
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stuart: the republicans submit their fiscal cliff solution. now, that plan put out by speaker boehner, includes 800 billion dollars in extra tax revenues and that would come from limiting deductions and not from higher tax rates. and there would also be 1.2 trillion dollars worth of spending cuts and the white house immediately dismissed that plan, saying, the lower tax rates for the rich and quote, fix the middle class with a bill. again, we come back to this. the main sticking point is the tax rate issue. the president insists more revenue comes from higher rates, not deduction limits. -pit's a standoff and it contins less than four weeks to go until the deadline. be careful what you say in a local police want a law, new law requiring that text messages be saved for two years. how do you feel about that? ever texted something you wish would go away right now? there is of course the privacy issue as well. well, here comes the judge. he will be new at 10 on this one. got it. shares of darden restaurants, they're down today and they're the comp
stuart: the republicans submit their fiscal cliff solution. now, that plan put out by speaker boehner, includes 800 billion dollars in extra tax revenues and that would come from limiting deductions and not from higher tax rates. and there would also be 1.2 trillion dollars worth of spending cuts and the white house immediately dismissed that plan, saying, the lower tax rates for the rich and quote, fix the middle class with a bill. again, we come back to this. the main sticking point is the...
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. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again we see there's no agreement that done involve those rates going up on the top 2% of the wealthiest. remember it's only 2%. >> former senator alan simpson, co-founder of the fix the debt campaign, choice words and analysis for would-be cliff jumpers. >> when you have leaders of parties and people from the administration saying, i think it will be to the advantage of the democrats to go off the cliff, wealthy it will be advantage to the republicans to go off the cliff or the president to go off the cliff, that's like betting your country. there's stupidity involved in that. this is big-time stuff. >> surprising exactly no one, senator mitch mcconnell took to the senate floor yesterday to blast the administration strategy as a campaign maneuver. >> incredibly, many top democrats, including the president, seem perfectly happy, perfectly happy, to go off the cliff. >> but in a new quinnipiac poll out today, the american public gives the democrats the benefit of the
. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again we see there's no agreement that done involve those rates going up on the top 2% of the wealthiest. remember it's only 2%. >> former senator alan simpson, co-founder of the fix the debt campaign, choice words and analysis for would-be cliff jumpers. >> when you have leaders of parties and people from the administration saying, i think it will be...
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each day toward the fiscal cliff is also another day closer to the country maxing out on its borrowing limits. president obama called it a dangerous lesson when he talked to business leaders today. >> the only thing that debt ceiling is good for as a weapon is to destroy your credit rating. >> reporter: he's worried republicans may refuse to raise the debt ceiling and risk defaulting on the country's loan. >> that is a bad strategy for america. it's a bad strategy for your businesses. and it is not a game that i will play. >> reporter: republicans are pushing back. >> he's the president, not the emperor. he does not have the power. >> reporter: fiscal cliff negotiations have been at a standstill since monday. not by raising rates on the rich as the president had insisted. >> we're not insisting on rates just out of spite, but rather because we need to raise a certain amount of revenue. >> we can't just keep borrowing money, raising taxes and expecting the problem to go away. >> reporter: house members headed home for a long weekend with democrats so far unsuccessful in their efforts to
each day toward the fiscal cliff is also another day closer to the country maxing out on its borrowing limits. president obama called it a dangerous lesson when he talked to business leaders today. >> the only thing that debt ceiling is good for as a weapon is to destroy your credit rating. >> reporter: he's worried republicans may refuse to raise the debt ceiling and risk defaulting on the country's loan. >> that is a bad strategy for america. it's a bad strategy for your...
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. >> and don luskin, is it better to own bonds during this fiscal cliff tiff? >> yes, december is the time to be risk off folks. the market's in complete denial. total complacency. the fiscal cliff will create a crisis like the debt ceiling negotiation did that led to the bottom 16 months ago. going to be another buying opportunity. but stocks will be significantly lower. by the way that's what creates buying opportunities. but face it it's going to happen. >> jim la camp, will the stock market vigilantes be necessary to get an agreement in washington? >> i think we're going to see more volatility. >> don and jim, thanks very much. >>> up next why the biggest headache right now for a baseball general manager might just be taxes and the fiscal cliff. don't tell me taxes don't matter. it even affects baseball all next on "kudlow." >>> dominos have a problem with obama care. they claim it forces them to post signs with nutritional information on every product. domino's says it's done the math. there are 34 million possible combinations costing thousands of dollars
. >> and don luskin, is it better to own bonds during this fiscal cliff tiff? >> yes, december is the time to be risk off folks. the market's in complete denial. total complacency. the fiscal cliff will create a crisis like the debt ceiling negotiation did that led to the bottom 16 months ago. going to be another buying opportunity. but stocks will be significantly lower. by the way that's what creates buying opportunities. but face it it's going to happen. >> jim la camp,...